San Diego-based Ligand Pharmaceuticals is acquiring San Diego-based Pfenex for a total deal transaction of up to $516 million.

U.S. Supreme Court justices appeared sympathetic to Merck & Co. in the company’s bid to fend off hundreds of lawsuits accusing the company of failing to adequately warn patients of the risks of thigh bone fractures associated with the osteoporosis drug Fosamax.

Shares of Amgen fell after the company announced it does not anticipate its experimental osteoporosis drug Evenity will be approved by the U.S. Food and Drug Administration during 2017.

Horizon Pharma ended a late-stage trial that was testing Actimmune as a treatment for a rare neuromuscular disorder that has no approved medicines.